PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: pennywise who started this subject	7/28/2001 1:41:02 PM
From: ms.smartest.person	of 2248

The Cults in the OTCBB By Giando Argentina Published by OTCBB News Network 05/16/2001 A stranger at a mall walks up to you and tells you that XYZ stock is releasing news shortly and is poised for a great run. Would you sink your money in XYZ? Probably not. However, what is it about the Internet and its ability to tear down our defenses that allows some to form opinions by what an anonymous message board poster writes? Most message boards seem to foster a cult mentality of accepting anyone with positive statements about a certain stock while shunning away anyone who brings up a negative point for discussion. It is an odd consortium of individuals from all walks of life meeting on message boards to support the stock they own and to attempt to convert as many as possible to their point of view. My most often visited message board community is Raging Bull. Unfortunately, the discussion of stocks is fading into all out brawls. It did not always used to be this way, maybe it’s the down market or maybe it’s the fact that people have realized that on a message board they can be anyone they want. One thing that is obvious is that the OTCBB tends to attract more of the fanatical investors than the larger markets. It is not as likely to find investors or traders on a large cap message board arguing with each other, or expecting the stock to be the answer to financial independence. The ability of some OTCBB investors to remain faithful to companies that time and again are involved in questionable activities is interesting to see. That is another aspect that you just do not see on the large cap stocks. The possibility of incredible gains may be some of the motivation behind the message board “discussions” but with that, the possibility of incredible losses is usually not explored. Credibility is an often discussed point on message boards but keep in mind that exchanging a couple of posts and emails with someone does not necessarily give them credibility. In addition, sharing the same opinion on a stock with one or a multitude of posters does not make the opinion correct. Many on the message boards are becoming part of a crusade against short sellers, Market Makers and the system as a whole. While movements for reform can be positive if executed in a meaningful way, try not to lose site of why people invest in stocks in the first place. It is to make money, period. There is a time to sell and move on to something else, becoming fanatical about a particular stock or company may distort your defense mechanism and it could prevent you from recognizing the all too important red flags that arise from time to time.

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